Italy's Prime Minister, Matteo Renzi, called an extraordinary meeting on Friday morning as global markets were plunged into turmoil by the UK's shock decision to leave the EU.

In the wake of the referendum result, which saw 52 percent of UK voters choose to leave the EU, Renzi summoned the country's top financial and business minds to his home at Palazzo Chigi in order to discuss where a Brexit leaves Italy.

Georgia Meloni, leader of nationalist conservative party Brothers of Italy (FdI) said that a Brexit represented “the spark needed to reform this useless institution [the EU] which only represents the ideas of business committees.”

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